The Monetary Policy Committee (MPC) has warned that there a number of factors at play that could lead to a revision of inflation in the coming fiscal year. Second, a pick up in global growth will push up crude oil and commodity prices producing inflationary pressures in the domestic economy. With oil prices rising, households will have to shell out a larger share of their earnings for cooking expenses and transport fuels. In case, global crude oil prices do harden, the government should explore the possibility of cutting back on the high taxes on transport fuels. Apart from the inflation concerns, the MPC reiterated that the economy is indeed coming back on track.

Source: dna February 08, 2018 02:26 UTC